Important changes to non-MTD VAT filing from April 2021
On 7 April 2021, HMRC will be unplugging its “VAT XML” filing system for organisations that are voluntarily registered for VAT, but who are not yet signed up for Making Tax Digital (MTD).
Two new SEISS grants
Two more grants under the self-employed income support scheme (SEISS) will soon be made available, capped at £7,500 each
Super deduction for capital expenditure
The Government has announced a super deduction of 130% of capital expenditure on new qualifying plant and machinery.
Corporation tax to rise to 25% in 2023
The Chancellor announced that taxes would have to rise, but not quite yet, as all tax rates except for VAT are frozen for 2021-22.
Tax relief for business losses
The Government have announced that they will permit businesses to carry back losses for up to three years.
